David Moyes to receive £2m bonus if West Ham United stay up

The idea that West Ham have been approaching the big names in football management suggests Bilic had been on borrowed time for some while, however, he was shown the exit after their embarrassing 4-1 defeat at home to Liverpool on Saturday evening.

"It wouldn't be a lot, let's face it we believed at the beginning of the season that we had the best squad of players for a decade. The first thing is to win the next game and build from there, and I'm sure we will be in a much stronger position before long".

In his unveiling video on West Ham's Twitter account, Moyes attempted to rally the fans, saying: "I'm really looking forward to meeting the supporters, being in the stadium with them".

Moyes' first game in charge will be at Watford in the Premier League on 19 November.

"We need somebody with experience, knowledge of the Premier League and the players in it, and we believe David is the right man to turn things around and get the best out of the players at the club", he told West Ham's website.

Speaking to talkSPORT after his unveiling in London, Moyes expressed his happiness at being handed the chance to manager such an illustrious club before he defended his managerial record since leaving Everton in May 2013. "I hope it gives me great strength and understanding of what is required".

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